Spain Used Car Market Overview
The Spain Used Car Market size reached 1.95 Million Units in 2024 and is projected to grow to 3.65 Million Units by 2033. This growth is expected at a compound annual growth rate (CAGR) of 6.70% during the forecast period 2025-2033. Factors such as high new vehicle costs, supply chain disruptions impacting new car availability, increased consumer preference for affordable mobility, and the rise of online platforms facilitating transactions are driving the market. Economic uncertainty and heightened demand for electric and hybrid second-hand vehicles are further fueling expansion.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
Spain Used Car Market Key Takeaways
- The market size was 1.95 Million Units in 2024.
- The CAGR is 6.70% during 2025-2033.
- The forecast period extends from 2025 to 2033.
- High new vehicle costs and supply chain disruptions drive demand for used cars.
- The rise of digital platforms is transforming transactions, providing transparency and financing options.
- Increasing demand for electric and hybrid used vehicles is supported by government incentives and improved infrastructure.
- Economic uncertainty pushes consumers toward affordable second-hand cars, with rental fleet sales increasing sharply.
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Spain Used Car Market Growth Factors
The growth in Spain's used car market is driven by high new car prices, further exacerbated by supply chain disruption and the associated lack of availability of new cars. Affordable mobility is thus sought, making the option of used cars more attractive. The rise in the market is also contributed to by a predisposition for secondhand cars, especially at times of economic uncertainty and increased inflation, which raise demand for cheaper forms of transportation.
One driver is obviously that of digital transformation-foregrounded platforms make transactions for used cars seamless. This is epitomized by FaciliteaCoches, a new digital marketplace inaugurated in December 2024 by CaixaBank, hosting 5,000 vehicles from more than 150 dealers. These platforms offer transparency on vehicle history, financing, AI-powered tools for price valuation, fraud detection, and enhanced buyer confidence and convenience.
The demand for used electric and hybrid vehicles is triggered by sustainability concerns, but also incentivized by governments through programs such as Spain's Moves III EV subsidy. Subsidies of 000 for electric cars, vans, and plug-in hybrids, together with widening eligibility and fleet operator allowances, go some way in encouraging uptake. Advances in the life of batteries and improved charging infrastructure reduce range anxiety, and electric used cars have become a practical option. The second-hand electric/hybrid segment is expected to grow when supply and prices improve, part of the bigger picture of Spain's sustainability goals.
Spain Used Car Market Segmentation
Vehicle Body Style:
- Hatchbacks
- Sedans
- Sports Utility Vehicles (SUV) and Multi-purpose Vehicles (MPVs)
Each category is analyzed for market trends and forecasts from 2025 to 2033.
Vendor Type:
- Organized
- Unorganized
Market split based on formal and informal vendors with relevant insights.
Booking Type:
- Online
- Offline
The report covers consumer preferences in digital and traditional purchasing methods.
Fuel Type:
- Petrol
- Diesel
- Electric
- Others
The report explores trends in various fuel types, emphasizing electric vehicle growth.
Regional Insights:
- Northern Spain
- Eastern Spain
- Southern Spain
- Central Spain
Regional market analyses covering key areas within Spain.
Regional Insights
The report identifies Northern, Eastern, Southern, and Central Spain as key regions for the used car market analysis. Exact dominant region statistics or market shares are not specified. The segmentation provides a comprehensive outlook on regional performance for the forecast period 2025-2033.
Recent Developments & News
- In February 2025 Dealcar, a Barcelona-based SaaS platform for used car dealerships, secured 000 million in seed funding to expand operations and develop Dealcar Pay, a payment solution. Dealcar collaborates with over 150 dealerships managing 8,000 cars daily.
- In January 2025 Santander Group launched Re Estrena, a long-term used vehicle rental service in Spain, including insurance, roadside assistance, and maintenance in the monthly fee. Vehicles are under three years old, sourced from Santander's fleet and leased units. Santander also operates Santander Renting for new vehicles and owns Coches.com, strengthening its digital auto retail footprint.
Key Players
- CaixaBank
- GANVAM
- Dealcar
- Santander Group
- Santander Renting
- Coches.com
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